Trading_hawk

Simple Trade Setup | BANDHAN BANK | 25-10-2021 [INTRADAY]

NSE:BANDHANBNK   BANDHAN BANK LTD
NSE:BANDHANBNK

Observations:

1) On daily time, it managed to close above 200DMA. 200DMA is placed at 320.03 level.
Only negative thing is that 50DMA is below 200DMA.

If it managed to sustain above 200DMA then the bullish move will continue.

Please refer below chart : 1day Time Frame.

2) On 1hr time frame, if it completes the rounding bottom pattern then breakout level is at 337.

Please refer below chart : 1hr Time Frame.
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Trade Setup for Date 25-10-2021:

1) Don't Jump in to trade at the beginning of the market. Let it get settle for 15-20min first and judge the price action.

2) Everything is mentioned on the chart. I hope it is easy to understand.

3) All the levels will work as support, resistance, entry and exit w.r.t price action near that level.

4) Avoid gap up or gap down chase. Wait and trade between levels.

Please refer below chart for levels.

Hope I made it easy to understand it.

Do comment your doubt or suggestion.

Note: Trade with Strict SL. It may or may not hit all the levels. So one can book profit / loss at respective level considering how price action works near that level.